The Mumbai-based pharma giant, Lupin, in a statement to a leading business daily, tried to revisit the investors expectations from the US markets, as the Company's hold of the market is likely to weaken in the near future.
At present, from Rs 12,958 crore of the company's aggregate revenue in 9MFY17, 48 per cent is sourced from its strong pending pipelines in the US markets. The Company owns abbreviated new drug applications (ANDAs) comprising 344 filed and 137 pending approvals, also including the 44 first time files (FTFs).
Dealing with intense price competition, despite a expected launch of 25 products next year, the Company is expecting growth in the US markets in single digits. Growing competition in the sale of the anti diabetes drugs, Glumetza and Fortamet, with the launch of an authorised version of Glumetza by Valeant; and an expectant launch by Sun Pharma and Teva, is likely to slacken Lupin's hold in the market. Glumetza and Fortamet are the feature drugs of Lupin with a contribution of 35% in the company's US revenue.
The Company raised the price for the drug Fortamet by 200% in 2015, and gained a market share of 50-60% till 2016. The Company's market share for Glumetza also reaches upto 75%.